Businesses make way for residential developments in Cape Town City Bowl

New residential developments and upcoming hotels in Cape Town continue to make waves in property circles with eager investors keeping a watchful eye on South Africa’s most desirable central business district to list as a home address. Accommodation in the Cape Town City Bowl presents a host of lifestyle benefits, in particular to young professionals wanting to stay close to their place of work along with the variety of world class attractions the Mother city has to offer.

As a result, the residential property market is thriving with many existing buildings being redeveloped alongside other new developments in Cape Town to accommodate the rising demand for residential property in the area – The Cape Town Central Improvement District (CCID) records population figures up from 750 a decade ago to at least 6000 permanent residents in 2014. Combine that with the notable steady increase in demand for hotels in Cape Town year round from travelers both local and abroad, property developers have started construction on a variety of new hotels in the CBD.

As a consequence, this trend is seeing business and companies leasing office space in Cape Town’s City Bowl having to start considering their relocation options. Here are some of the major developments currently underway:

Signatura launches new Radisson Blu hotel and residence

Radisson Blu hotel and residence apartment interior

A proposed interior for an apartment in The Radisson Blu hotel and residence. Image Source: ujah.co.za

 

John Rabie, founder of Rabie Property Group, envisaged a residential redevelopment of “Triangle House” a long time ago and capitalized on Carlson Rezidor wanting to expand its presence in Cape Town. The project is marketed by Signatura (John Rabie’s Private label property brand) with the development’s apartment component due for completion late 2016. State of the art fits and finishes, a generous parking allocation of 1 bay per bedroom as well as a back-up generator are among the list of the building’s key features.

The Rabie Property Group is responsible for major new commercial property and new developments in Cape Town’s Century City, which includes the new developments in the Bridgeways Precinct.

Tsogo Sun replaces Tulip hotel

Architect's impression of the Tsogo Sun hotel

The New Tsogo Sun hotel by Dexter Moren & Associates

 

Already operating three sizable hotel establishments in the Cape Town CBD, Tsogo Sun will be contributing a further 505 bedrooms for holiday accommodation in the cape town CBD when its new “StayEasy” and “SunSquare” hotels are completed late 2017. The new hotels (3 and 4 star respectively) will be built in the place of the recently demolished Tulip hotel on the corner of Strand and Loop streets. These new additions will add to the HCI controlled hotel group’s already expansive portfolio of 14 casinos and over 90 hotels throughout Africa.

The Silo hotel by Royal Portfolio in the V&A Waterfront

Interior of the new Silo Hotel

Proposed Interior of the New Silo hotel in the V&A Waterfront by Royal Portfolio

 

With the redevelopment of the Silo district in the V&A Waterfront heading into its final phase, the Silo hotel operated by Royal Portfolio is set to open its doors late 2016. Reputable property developer Growthpoint Properties is behind the development, which will see residential and commercial components to be completed alongside the new hotel.

Read more about the Silo district by clicking here.

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